The Carlsberg Group has increased its stake in Chongqing Brewery from 29.7% to 60% with the purchase of additional 146.6 million shares at a total purchase price of RMB2.9bn ($477.7m).

Though the purchase was announced on 4 March 2013, Chongqing will be fully consolidated in Carlsberg’s accounts from December 2013.

Based in China, Chongqing Brewery has 23 breweries located across Western and Eastern China, and employs 6,500 employees.

The brewery’s major brand in the country is Shancheng; it has also recently started producing Carlsberg Group’s two major brands, Carlsberg and Tuborg.

Carlsberg Group president and CEO Jørgen Buhl Rasmussen said that this transaction, following on from the company’s decision to construct two new breweries in China and Myanmar, further reinforces the company’s commitment to Asia, and in particular to China, where it sees exciting growth potential.

"We will now ensure that CBC becomes integrated into the Carlsberg organisation and is able to share in our best practices, be they in terms of marketing and sales excellence, production and procurement improvements, environmental efficiency or our outstanding research and development resources," Rasmussen added.

"We have had a very good relationship with CBC and its main shareholder since 2008 and we believe that through closer cooperation with Carlsberg, the performance of this large-scale beer business will be significantly enhanced."

Image: Chongqing Brewey’s leading brand is Shancheng. Photo courtesy of Carlsberg Breweries A/S.